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Business deals

China's state-owned chemicals inch toward megamerger

Sinochem and ChemChina first combine agriculture units

A Sinochem factory: There has been speculation for years that China's two leading chemical makers could merge. (Photo courtesy of Sinochem)

BEIJING -- Sinochem Group and ChemChina are taking steps toward forming a single mega-sized, state-owned company with over $150 billion in annual sales, following up on their decision this month to integrate agrochemical businesses.

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